Judge Keeps $160M UBS Loss Out Of GE Bid-Rigging Case

Law360, New York (October 24, 2011, 2:36 PM EDT) -- A New York federal judge refused on Thursday to allow prosecutors to introduce evidence showing a bid-rigging scheme allegedly perpetrated by three former GE Capital executives cost UBS AG $161 million.

In August, U.S. District Judge Harold Baer tossed a wire fraud charge as time-barred, in part because prosecutors had not shown the alleged scheme harmed UBS. However, he kept six conspiracy counts against defendants Dominick P. Carollo, Steven E. Goldberg and Peter S. Grimm, saying those allegations fell within the correct, five-year statute of limitations....
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